The recent fluctuations in essential commodity prices present a mixed bag of relief and concern for consumers as we approach the New Year and the festive season.
While prices for vegetables, onions, and potatoes have witnessed a notable decline, the continuing rise in meat and rice prices raises significant concerns for households, particularly in the face of growing demand during celebrations.
On the bright side, the reduction in the prices of essential vegetables brings welcome relief to consumers. Onion prices, which had spiked in recent months, have decreased to Tk 50-80 per kilogram from Tk 70-100. This drop is attributed to increased local supply, particularly seasonal varieties, along with a reduction in onion import costs due to lower prices in neighbouring India.
Similarly, potato prices have seen a decrease of Tk 10-20 per kilogram, thanks to newly harvested crops. The overall 20-30% price reduction in winter vegetables such as cauliflower, cabbage, and beans is another positive sign, reflecting rising supply and an effective market response to seasonal changes. These price cuts will undoubtedly ease the financial burden on households that rely on these staples.
However, the picture is not entirely positive. The sharp increase in the prices of chicken, beef, and river fish is worrying. Broiler chicken prices have surged to Tk 210-220 per kilogram, with other varieties like Sonali and Pakistani chicken reaching Tk 340-360 per kilogram.
Traders attribute this hike to heightened demand from households and restaurants ahead of the thirty-first night and New Year celebrations. The price of beef has also risen to Tk 780-800 per kilogram, marking a Tk 20-30 increase in just a week. These price increases are likely to persist until March, driven by the season of festivals, weddings, and fairs. For many consumers, especially those with limited income, these rising prices present a financial challenge, as meats are central to New Year celebrations.
Rice prices, another staple food item, have remained high. Coarse rice continues to retail at Tk 55-56 per kilogram, with medium and fine varieties priced at Tk 65-90 per kilogram. The cost at mill gates has risen, which could further increase retail prices in the coming weeks. Despite government efforts to stabilize rice prices, there is little sign of significant price reduction, adding to the financial strain.
Additionally, the edible oil market remains volatile, with bottled soybean oil prices fluctuating, often exceeding the government-set rate of Tk 175 per litre. This price instability, along with concerns about fake companies selling overpriced oil, creates further uncertainty for consumers.
While the drop in vegetable prices provides some relief, the continued rise in meat and rice prices is a growing concern. The government must step up its efforts to stabilize prices, ensuring that essential food items remain affordable for all, especially during this festive season.
Consumers deserve price stability, which can help ease the financial strain and allow families to fully enjoy the celebrations.
